Methods of funding

Our team would be choosing the funding method of bootstrapping. As we all agree to start small so we
would only require a part-time computer programmer which would cost us around $50,000 a year, a
small office area which would cost us around $1,000 per month or we could also work from home to
decrease our operational cost. At first we all could just take the minimum wage of $16 per hour and we
could use the remaining amount of the funding for marketing purposes and other operational costs. But,
in the long term we will be partnering with big organization to increase our revenue and our brand
reputation.

Risk

As usual starting a startup would face a lot of risks and for us our company will be facing some risks
which are:

1) Financial risk: The risk of managing the company alone with lack of external help would be a
challenge for the five of us as this will be the very first time we start a company and this add
even more pressure to us. Due to that, we will need to minimize our company’s spending and
maximize each of our own network to market our product to increase the public awareness
towards our product. Another risk we could face is due to the lack of knowledge and experience
we have towards the product, we would eventually waste some amount of money in testing the
product before we eventually launch it to the public.
2) Technical risk:
3) People risk:
4) Market risk